Bug Accidentally Gives $90M Of Crypto Out, Founder Begs For Return-Would YOU Return?

[GordonXXX]

DeFi bug accidentally gives $90 million to users, founder begs them to return it
PUBLISHED FRI, OCT 1 20215:07 AM EDTUPDATED AN HOUR AGO
MacKenzie Sigalos @KENZIESIGALOS

KEY POINTS

About $90 million has mistakenly gone out to users of popular DeFi staking protocol Compound and the founder is begging users to voluntary return the tokens.

“Keep 10% as a white-hat. Otherwise, it’s being reported as income to the IRS, and most of you are doxxed,” Robert Leshner, founder of Compound Labs, tweeted late Thursday.

About $90.1 million has mistakenly gone out to users of popular DeFi staking protocol Compound after an upgrade gone epically wrong. Now, the founder is making a plea — and issuing a few threats — to incentivize the voluntary return of the platform’s crypto tokens.

“If you received a large, incorrect amount of COMP from the Compound protocol error: Please return it,” Robert Leshner, founder of Compound Labs, tweeted late Thursday.

“Keep 10% as a white-hat. Otherwise, it’s being reported as income to the IRS, and most of you are doxxed,” continued the tweet.

https://www.cnbc.com/2021/10/01/defi...-to-users.html

[Dogkrack]

lmao id rather just declare it as income and keep 70%. fuk that jabronie

[Unstumpable]

Lucky coincels.

I’d cash out before the founder goes full scorched earth and crashes it all.

[Procta]

finders keepers

[Kiop]

finders
cyrptopeers

[plsmire]

Is there any legal ramifications for keeping it? Could it be considered “stealing”?

[GordonXXX]

Is there any legal ramifications for keeping it? Could it be considered “stealing”?

i would think it's like a bank who accidentally dropped Billions into your bank account. but maybe the banks have protections that the cryptos do not.

A Louisiana family received a $50 billion deposit in their account in a 'technical glitch' by the bank

https://www.insider.com/bank-deposit...-glitch-2021-7

[Coach McGuirk]

Is there any legal ramifications for keeping it? Could it be considered “stealing”?

If that happened with your bank then yes.

Not sure about crypto.

[Komisch]

Is there any legal ramifications for keeping it? Could it be considered “stealing”?

They do this in the case of bank errors, which tbh is still fukked... but for crypto, nothing will happen. Cash out.

Especially after throwing out "most of you are doxxed" as a threat if you don't give it back? what the actual fukk.

[gmenfan40]

i would think it's like a bank who accidentally dropped Billions into your bank account. but maybe the banks have protections that the cryptos do not.

A Louisiana family received a $50 billion deposit in their account in a 'technical glitch' by the bank

https://www.insider.com/bank-deposit...-glitch-2021-7

If I woke up with 50 mil in my bank account one morning, I'm instantly transferring it to an offshore account and fleeing the country. (Ded fkn Srs)

[Achilles87]

I have comp where's my fuking free money ****s

[GordonXXX]

If I woke up with 50 mil in my bank account one morning, I'm instantly transferring it to an offshore account and fleeing the country. (Ded fkn Srs)

that bank story was $50 BILLION - with a B! that would be tempting! especially if you're poor!

[Unstumpable]

If I woke up with 50 mil in my bank account one morning, I'm instantly transferring it to an offshore account and fleeing the country. (Ded fkn Srs)

I’m sure that kind of transfer would have to be approved by somebody though right?

[Jms89]

defi projects are a mess

[CherryPopinski]

I don’t think the crypto community has the same protections as a private bank. So screw it cash out and live rent free lmao

[MiscInformed]

lmao id rather just declare it as income and keep 70%. fuk that jabronie

If it's a made up currency and not backed by any government, how can it be income and how can anyone tax it?

If I told you I am sending you 1M miscercoins via e-mail, how does that entitle the IRS to come and demand dollars from you?!

[FilsGoodMan]

Return a cryptocurrency.

LMFAO. Crypto is literally scam or be scammed, imagine thinking it's like legitimate money.

[FilsGoodMan]

If it's a made up currency and not backed by any government, how can it be income and how can anyone tax it?

If I told you I am sending you 1M miscercoins via e-mail, how does that entitle the IRS to come and demand dollars from you?!

It can't until you withdraw to USD through an exchange.

[128]

If it's a made up currency and not backed by any government, how can it be income and how can anyone tax it?

If I told you I am sending you 1M miscercoins via e-mail, how does that entitle the IRS to come and demand dollars from you?!

Well he must be assuming those who hold could give it back so he’s afraid of them selling

[RonaldMcflurry]

If it's a made up currency and not backed by any government, how can it be income and how can anyone tax it?

If I told you I am sending you 1M miscercoins via e-mail, how does that entitle the IRS to come and demand dollars from you?!

Please believe that congress is working on legislation concerning that right now. Or maybe not even congress. Someone might come up with a mandate. Or an executive order. Or the IRS might just make up some rule, or the FBI. Who knows. They really just do whatever they want and make it up as they go along anyways.

[elterrible987]

has the coin went up or down in value?


surely people will want to exit being the controller of this coin is a retard... you would think

[nielk]

Is there any legal ramifications for keeping it? Could it be considered “stealing”?

nope!
thats what you get when you deal with crypto...
its like the wild west. no rules, but you may catch a bullet or two

[hackerwacker]

He's mad because the "bug" was supposed to work the other way

[Joseph1990]

Lucky coincels.

I’d cash out before the founder goes full scorched earth and crashes it all.

This.

Put however much you would owe in taxes if caught into a high interest account and wait that out too. Worst case you pay it out with some free interest on the side best, case you keep the nest egg.

[BenMcLeodNZ]

I would if I believed in the product

[LinuxJon]

has the coin went up or down in value?


surely people will want to exit being the controller of this coin is a retard... you would think

One would think.

It's also funny that the entire appeal of crypto is supposed to be anonymity and autonomy... but even the people running the scam admit they know who everyone is and that the IRS does too.

If I woke up with 50 mil in my bank account one morning, I'm instantly transferring it to an offshore account and fleeing the country. (Ded fkn Srs)

Have you ever had to move like $100k between banks? It's a pain in the ass. I can promise you if you tried to move $50m, someone would catch it way before the funds were released.

[Briangumble]

If I woke up with 50 mil in my bank account one morning, I'm instantly transferring it to an offshore account and fleeing the country. (Ded fkn Srs)

I would really want to do something like this too, but I wouldn't want to live anywhere outside of the U.S. so not sure how I would play it.

[pantiespending]

If I woke up with 50 mil in my bank account one morning, I'm instantly transferring it to an offshore account and fleeing the country. (Ded fkn Srs)

For real

[KingSWRV]

How can such a thing even happen with an update.

Seems like a stunt

[LtGoose]

He's mad because the "bug" was supposed to work the other way

Most likely.